Auction House Chooses Replacements for Tobias Meyer, Following Criticism of Investor Dan Loeb

Sotheby's Friday named two veterans to lead its global contemporary art department, following criticism from activist investor Dan Loeb about the auction house's leadership in the white-hot contemporary art market.

Alexander Rotter and Cheyenne Westphal were named world-wide heads of Sotheby's contemporary art department, a reward for the auction house veterans who have had recent successes. In November, Mr. Rotter was behind the auction of Andy Warhol's "Silver Car Crash," which fetched $104 million, a record...